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If I am not mistaken I believe KG said on one thread that OPEC and speculators set the price of oil/gasoline. Wouldn't shutting down oil refineries in the U.S. also cause the price of gasoline to rise?

I don't know the answer to that RP, but I know that some USA people lost their jobs and that is not good!!

If I am not mistaken I believe KG said on one thread that OPEC and speculators set the price of oil/gasoline. Wouldn't shutting down oil refineries in the U.S. also cause the price of gasoline to rise?

Yes, Roger, that is the point I was trying to make. Would it be better to offer a tax break to the refineries to keep the jobs here at home, rather than lose the jobs?

If US oil refineries can't make enough profit to stay in business; the crude is processed elsewhere where it is cheaper to do ... for now. That costs US jobs while keeping the cost of gas down in the short term. A tax break to keep the jobs could be offset by the taxes paid by those employed people v. paying out $ for unemployment ... and re-training refinery workers to another type of employment since the refinery jobs would be gone.

In the long-term, however, we are at the mercy of those countries who are currently offering cheaper refining. What if they decide to raise their price? We would not be prepared to pick up the slack at home for a while, since you can put refineries on-line overnight.

Also, recall that when Katrina hit & knocked out the refineries in the Gulf of Mexico, the panic on that caused gas prices to rise. Fear of shortage turned out to be worse than the reality, but the fear of shortage, alone, was enough to have prices shoot up.

G.Clinchy@gmail.com"Know in your heart that all things are possible. We couldn't conceive of a miracle if none ever happened." -Libby Fudim

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Yes, Roger, that is the point I was trying to make. Would it be better to offer a tax break to the refineries to keep the jobs here at home, rather than lose the jobs?

If US oil refineries can't make enough profit to stay in business; the crude is processed elsewhere where it is cheaper to do ... for now. That costs US jobs while keeping the cost of gas down in the short term. A tax break to keep the jobs could be offset by the taxes paid by those employed people v. paying out $ for unemployment ... and re-training refinery workers to another type of employment since the refinery jobs would be gone.

In the long-term, however, we are at the mercy of those countries who are currently offering cheaper refining. What if they decide to raise their price? We would not be prepared to pick up the slack at home for a while, since you can put refineries on-line overnight.

Also, recall that when Katrina hit & knocked out the refineries in the Gulf of Mexico, the panic on that caused gas prices to rise. Fear of shortage turned out to be worse than the reality, but the fear of shortage, alone, was enough to have prices shoot up.

Yes, I remember. A few friends from Georgia called me and said gasoline was $5.00 a gallon.

It costs oil companies less than $10 per barrel to extract and ship a barrel of oil. The “finding” costs to explore and develop an oil field range from $5 per barrel in the Middle East to $67 per barrel off of the U.S. coast. These are production costs. So when the market price jumps due to speculators, political unrest, supply disruption, or other similar events, it is a windfall for the oil company.

With the outragous profits the oil companies are making why would we have to give them another tax break?

It costs oil companies less than $10 per barrel to extract and ship a barrel of oil. The “finding” costs to explore and develop an oil field range from $5 per barrel in the Middle East to $67 per barrel off of the U.S. coast. These are production costs. So when the market price jumps due to speculators, political unrest, supply disruption, or other similar events, it is a windfall for the oil company.

With the outragous profits the oil companies are making why would we have to give them another tax break?

Don't worry, I am sure there is a bill being drafted right now for the Fed's to "reform" the oil industry!!

Your party is the one always telling us about how much gas cost in France.

If I am not mistaken, I can remember conversations on RTF about gas prices and cutting down on going to hunt tests and field trials. Correct me if I am wrong. And I also believe most on this forum are republicans. Correct me if I am wrong there also.

By the way, I am a registered independent. So I do not know of which party you speak.

If I am not mistaken, I can remember conversations on RTF about gas prices and cutting down on going to hunt tests and field trials. Correct me if I am wrong. And I also believe most on this forum are republicans. Correct me if I am wrong there also.

I do not know the party affiliations of most here.

I never missed a hunt test because of the cost of gas in France!!

When your party raise my taxes, I just raise the cost of my services to my clients!!

If I am not mistaken I believe KG said on one thread that OPEC and speculators set the price of oil/gasoline. Wouldn't shutting down oil refineries in the U.S. also cause the price of gasoline to rise?

No, Roger, it won't...it will cause the companies that own those refineries to incur less expense and therefore make more profit.

Why won't the current administration work toward lessening our dependence on fossil fuels? The price of gas affects ALL of us EVERY DAY....is our current leadership so myopic that they can only work on one major campaign promise at a time?